HBK Investments L P Invests $12.82 Million in Solventum Co. (NYSE:SOLV)

HBK Investments L P bought a new stake in Solventum Co. (NYSE:SOLV - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 183,917 shares of the company's stock, valued at approximately $12,823,000. HBK Investments L P owned 0.11% of Solventum at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SOLV. Copeland Capital Management LLC bought a new stake in shares of Solventum in the 3rd quarter worth $26,000. Mather Group LLC. acquired a new stake in Solventum during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC acquired a new position in Solventum in the first quarter worth approximately $30,000. Hollencrest Capital Management bought a new position in shares of Solventum in the second quarter valued at $25,000. Finally, Deseret Mutual Benefit Administrators acquired a new position in shares of Solventum in the 2nd quarter worth $25,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a "sell" rating in a report on Monday, August 12th. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a "buy" rating and a $82.00 price objective for the company. Wolfe Research began coverage on Solventum in a report on Thursday, September 26th. They issued a "peer perform" rating for the company. Finally, BTIG Research initiated coverage on Solventum in a research note on Thursday, September 5th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $68.00.

Solventum Stock Performance

NYSE SOLV traded down $0.97 during trading on Friday, hitting $71.51. 576,974 shares of the company traded hands, compared to its average volume of 1,689,087. The business has a fifty day simple moving average of $70.52 and a 200 day simple moving average of $62.54. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

Solventum Company Profile

Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration.